5 from 5i: The S&P500's gains are almost entirely from just five companies

Barkha Rani Jun 02, 2023
Headline image for 5 from 5i: The S&P500's gains are almost entirely from just five companies

Market View

Job openings in the US rose unexpectedly in April, increasing to 10.1 million from 9.7 million in the prior month and topping estimates of 9.375 million. At 11.27 million barrels a day, the US sold more petroleum abroad in March than ever. The debt ceiling bill has made its way through the US Senate. The US dollar saw its largest weekly fall since mid-January. The Canadian dollar was 74.36 cents USD. The U.S. S&P500 ended the week up 3.2%, while the TSX was up 0.3%.

 

Many sectors saw a reversal mid-week ending the week closer to where the week began. Materials gained 0.8%, followed by energy at 0.6%. Industrials added 0.5%, while consumer discretionary edged up by 0.3%. Healthcare gave up 2.3%, while consumer staples slid by 1.0%. Technology ended the week down 0.3%. The most heavily traded shares by volume were Suncor Energy, Baytex Energy, and Canadian Natural Resources.

5 from 5i

Here are five reads we found interesting last week:

Happy Reading & Stay Safe!

 


Disclosure: The analyst(s) responsible for this report do not have a financial or other interest in securities mentioned.

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